The objective of joint rate allocation among multiple coded video streams is to share the bandwidth to meet the demands of minimum average distortion (minAVE) or minimum distortion variance (minVAR). In previous works on minVAR problems, bits are directly assigned in proportion to their complexity measures and we call it look-ahead allocation model (LAM), which leads to the fact that the performance will totally depend on the accuracy of the complexity measures. This paper proposes a look-ahead and feedback allocation model (LFAM) for joint rate allocation for High Efficiency Video Coding (HEVC) platform which requires negligible computational cost. We derive the model from the target function of minVAR theoretically. The bits are assigned according to the complexity measures, the distortion and bitrate values fed back by the encoder together. We integrated the proposed allocation model in HEVC reference software HM16.0 and several complexity measures were applied to our allocation model. Results demonstrate that our proposed LFAM performs better than LAM, and an average of 65.94% variance of mean square error (MSE) is saved with different complexity measures.